The Sky is Falling! The Sky is Falling!

Every year, one of the financial experts at my conference predicts doom and gloom in the stock market. Not surprisingly, in 2008, he forecast a collapse in the market, and he was right. But what about the massive recovery and bull market since 2008? He says he has made money for his clients, and yet every July, at FreedomFest, he predicts another collapse.

It reminds me of the old Wall Street saying, “Bears make headlines, bulls make money.”

Historically, stock prices are more likely to rise than to fall, by a two-to-one margin. That’s why I prefer to be on the side of the bulls.

Steve Forbes is a born optimist. At last year’s FreedomFest, our theme was “Are We Rome?” Many historians and political pundits argued that we were headed for disaster, just like ancient Rome. Steve demurred. He contended that there’s still a lot of life, liberty and the pursuit of happiness in the good ol’ USA. Steve will be back as our first speaker at our opening ceremonies at FreedomFest on Wednesday, July 9, on the subject of how to fight “big brother” — and maybe even win.